Kibo Collaborates with Industrial Bank of Korea for Public Safety and Disaster Response

Signing of Financial Support Agreement for SMEs in Firefighting and Disaster Safety Industry

[Asia Economy Reporter Kim Cheol-hyun] The Korea Technology Finance Corporation (Chairman Kim Jong-ho, hereinafter referred to as Kibo) announced on the 29th that it has signed a 'Financial Support Agreement for Small and Medium Enterprises Engaged in Firefighting and Disaster Safety Industry' with the Industrial Bank of Korea (President Yoon Jong-won, hereinafter referred to as IBK).

This agreement was established as both institutions cooperate to protect the safety of the public and enhance disaster response capabilities in response to frequent large-scale disasters caused by climate change and urban high-density development. The target companies for support are technology-based SMEs engaged in the firefighting and disaster safety industry.

Through the agreement, Kibo will provide preferential guarantees totaling 20 billion KRW to target companies using 1 billion KRW of special contributions from IBK as funding. Kibo plans to actively support the reduction of financial costs and innovative growth of technology SMEs in the firefighting and disaster safety industry by offering preferential benefits such as ▲increased guarantee ratio (from 85% to 90% or more) and ▲reduced guarantee fees (0.3 percentage points decrease for 3 years).

Kim Jong-ho, Chairman of Kibo, said, "Taking this agreement as an opportunity, Kibo will actively support small and medium enterprises in firefighting and disaster safety to protect the safety of the public from disasters and accidents caused by abnormal climate and large-scale incidents." He added, "We will continue to faithfully support government national tasks and fulfill our role as a comprehensive support institution for small and medium ventures."

This content was produced with the assistance of AI translation services.